§ 10-754. Tax credit for seniors
West's Annotated Code of MarylandTax-GeneralEffective: July 1, 2022
Effective: July 1, 2022
MD Code, Tax - General, § 10-754
§ 10-754. Tax credit for seniors
(a) In this section, “eligible taxpayer” means a resident who, on the last day of the taxable year, is at least 65 years old.
(b) Except as provided in subsection (c) of this section and subject to subsection (d) of this section, an eligible taxpayer may claim a credit against the State income tax in an amount equal to:
(c) For a taxable year in which the September General Fund estimate for the current fiscal year in the September Board of Revenue Estimates report issued during the taxable year is more than 7.5% below the March General Fund estimate for the current fiscal year in the March Board of Revenue Estimates report issued in the taxable year, the amount of the credit allowed under subsection (b) of this section is limited to:
Credits
Added by Acts 2022, c. 3, § 1, eff. July 1, 2022; Acts 2022, c. 4, § 1, eff. July 1, 2022.
MD Code, Tax - General, § 10-754, MD TAX GENERAL § 10-754
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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